Nokia - Corporate Action

Conversion of Nokia Corporation's EUR 750 million convertible bond into Nokia shares

Nokia Corporation
Stock Exchange Release
November 20, 2015 at 9.30 (CET +1)

Conversion of Nokia Corporation's EUR 750 million convertible bond into Nokia
shares

Espoo, Finland - A total of 27 238 491 new Nokia shares have today been
registered with the Trade Register. The shares were subscribed for by using the
conversion right pertaining to Nokia's EUR 750 million convertible bond. The
conversion amount, EUR 65 100 000, is recorded into the fund for invested non-
restricted equity, hence, the share capital of the company will not increase.

The total number of Nokia shares after registration of the shares with the Trade
Register is 3 981 888 953. Each share carries one vote.

The new shares will carry the shareholder rights under Finnish law as of the
date of registration on November 20, 2015. The shares will commence trading in
Nasdaq Helsinki (NOKIA) together with other Nokia shares as of November
20, 2015 and are expected to commence trading on Euronext Paris (NOKIA) as of
November 23, 2015. Euronext Paris will publish a notice announcing the admission
to trading on Euronext Paris of the new shares.

Possiblity to convert the bonds into Nokia shares ended on November 17, 2015. As
per Nokia's notice on October 8, 2015 all the outstanding convertible bonds will
be redeemed at their principal amount plus accrued but unpaid interest on
November 26, 2015.


About Nokia
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connected world to help people thrive. Our three businesses are leaders in their
fields: Nokia Networks provides broadband infrastructure, software and services;
HERE provides mapping, navigation and location intelligence; and Nokia
Technologies provides advanced technology development and licensing.
www.nokia.com

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